DeTe Immobilien, the real estate arm of Deutsche Telekom, has received 19 bids for its first major portfolio sale.
The average bid comes out at over €500m (DM978m) for the 30-property lot. The deal is a sale-and-leaseback of the real estate, which is composed mainly of offices.
DeTe Immobilien is compiling a shortlist with a handful of bidders which includes both domestic and international concerns.
The supervisory board of DeTe Immobilien has approved plans to divide the business into two operating units. Asset management for the properties will be undertaken by one unit, while facilities management will be taken care of by a second.
This partly confirms press reports suggesting that the company is planning to sell off the facilities management unit, although Deutsche Telekom refused to confirm this.
In the meantime, reporting on the first half of the year, DeTe Immobilien said it had increased its turnover for facilities management services to third parties by 20% compared to last year. New contracts for around €40m (DM78m) were signed; for the full year the company forecasts it will sign contracts worth €66m (DM129m).
It is also continuing with a restructuring programme, and over the next two years it plans to reduce staff by 2,500. This year alone 800 jobs will go.
